Papertrade logs $39.9B in volume 30 minutes after launch
- —Cumulative trading volume hit $39.9 billion in the first 30 minutes
- —Open interest: $1.27 billion in BTC contracts and $890 million in ETH contracts
- —PAPER is minted on user losses: 100 tokens per $1 of loss while the pool is below $2 million
- —PAPER issuance declines once the liquidity pool tops $2 million
Why it matters: The record launch volume could draw attention to synthetic perpetuals on HyperEVM, though the model's durability hinges on sustained open interest.
Source: TokenPost